BankThink

Receiving Wide Coverage ...SEC Unveils Social Media Rules: The Securities and Exchange Commission has decided that companies can use Facebook, Twitter and other social media outlets to disclose key information about operations. But there's one catch: investors must be told what handles, Facebook pages, etc. these updates will be posted to. According to the Post, this disclosure rule essentially mimics the guidance issued by the SEC regarding company websites in 2008. Regarding the new social media rule, one former SEC enforcement official tells Dealbook, the "they did a really good job of splitting the baby." But this Journal blog hints that the SEC's clarity on social media may not be a game-changer. "While companies may now feel freer to use Facebook or Twitter to disseminate key information, in practice many are likely to play it safe and won't rely solely on social media sites as a distribution channel for such news," the author writes.

The Consumer Financial Protection Bureau's definition of a "rural" market needs to be more flexible according to state banking regulators.

Accounting for utility and car expenses would help lenders make better loan decisions, encourage homebuyers to select affordable houses and support a more sustainable housing market.

The former Securities and Exchange Commission chair’s move to Promontory Financial is likely to add to public cynicism about a revolving door and regulatory capture.

The best sales folks realize rejection isn't a sign they’re bad at their jobs. It's a sign they are actually out there doing their jobs.

Receiving Wide Coverage ...A Goldman Specialty: Today was a morning of scattered financial coverage: the only story to be covered by more than one outlet is a Securities and Exchange Commission filing revealing that Goldman Sachs will launch a specialty finance company. The vehicle will use Goldman and investor money to purchase the high-risk debt of unrated midsized US companies, but don't call that prop trading – it's a business development corporation! And under the Jumpstart Our Business Startups Act of 2012, it qualifies as an "emerging growth company" which doesn't need to comply with a full slate of financial reporting rules. Wall Street Journal, Financial Times

Calls for reciprocity and a lack of participation from Asian-Pacific countries present significant challenges for the overreaching legislation.

Following the expansion of the Consumer Financial Protection Bureau's complaint database, officials are wondering if the now public information will help or hurt banks.

Examining trends in spend activity provides a clear indication of customer engagement, which gives you a keen sense of the overall health of the business.

Receiving Wide Coverage ...In Cyprus, Patrolling Borders, Pointing Fingers: Cyprus is trying to tighten its borders against attempts by some depositors to bypass capital controls on banks and move money off the island, the FT reports. Police have upped patrols in the southern town of Limassol in an effort to frustrate efforts to extract money from the island by boat. Rules in place since Thursday prevent depositors from taking more than 1,000 euros a day out of the country. At least three people trying to leave the island with more than 200,000 euros in cash on them have been stopped by authorities, according to the FT. Officials are said to be investigating withdrawals from both the Bank of Cyprus and Laiki Bank in the early morning house of March 16 before the country's first bailout package was inked.